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Costs, enrollments higher than expected in first monthly Medicaid financial report

Medical equipment affixed to a light beige wall in an exam room.
Lauren Chapman
/
IPB News
The first report provides data on Medicaid enrollment, expenditures and funding as of February 2024.

The Family and Social Services Administration said Medicaid spending is more than $100 million above forecast in its first monthly financial report.

In January, FSSA announced it would improve its forecasting and budget monitoring processes to address transparency concerns following the state’s $1 billion Medicaid shortfall. The first report provides data on Medicaid enrollment, expenditures and funding as of February 2024.

The report shows Medicaid enrollments are about 1 percent higher than expected. FSSA said it anticipated more disenrollments between January and March 2024, but that has not happened. It also said the implementation of continuous eligibility requirements for children is also driving the increased year-over-year enrollment.

Medicaid costs are nearly 1 percent over the forecasted amount. The agency said the expenditures are driven by Home and Community Based Services expenditures and rate investments for providers.

The report also said Medicaid funding was about $22 million below the forecast.

FSSA said financial reports will be updated “approximately” once a month, but noted data is subject to revisions and modifications to account for the “most up-to-date data.”

Abigail is our health reporter. Contact them at aruhman@wboi.org.

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Abigail Ruhman covers statewide health issues. Previously, they were a reporter for KBIA, the public radio station in Columbia, Missouri. Ruhman graduated from the University of Missouri School of Journalism.